New York, United States, July 18, 2022 (GLOBE NEWSWIRE) -- Microgreens are young plants that are harvested for consumption. They have a short crop cycle. Depending on the species and microgreens, they can be harvested in 7 to 14 days. Microgreens are primarily grown in indoor vertical and greenhouse farming methods because they require care and a controlled environment. Microgreen production is expected to increase as the public accepts protected culture and the government provides financial and technical assistance to farmers to install protected cultivation plants.
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Rise in Demand for Indoor Cultivation to Drive the Global Microgreens Market
Indoor cultivation is the process of growing food crops in a controlled environment to be harvested at any time of year with high productivity. Farmers have turned to indoor Farming due to rising food demand and declining agricultural food production. Agriculture production is declining due to dwindling fertile land, unfavorable climatic conditions, and restrictions on natural resource use. With such factors, conventional farming production is insufficient to meet the growing population's demand. According to the UN, the current global population of 7.6 billion people is expected to increase to 9.8 billion by 2050 and 11.2 billion by 2100. (UN, 2017).
Greenhouses and indoor vertical Farming are the most widely used Farming practices for producing microgreens, owing to benefits such as increased farmland productivity, weather control, more efficient use of productive resources, and reduced pest, weed, and crop disease risk. Furthermore, the rise in technological innovations in indoor Farming, such as the rise of information technology in vertical Farming and greenhouses, encourages farmers to adopt agriculture, indirectly supporting the global microgreens market during the forecast period.
Rapid Increase in the Retail and Online Stores to Provide Lucrative Opportunities for the Global Microgreens Market
Microgreens require a wide-area distribution network as well as advertising to raise awareness. Microgreens are now more widely available thanks to an increase in large retail stores, such as supermarkets and hypermarkets, in developing economies. These shops aid in the promotion of functional foods. Supermarkets, hypermarkets, and grocery stores have helped improve the distribution of agricultural food products like packaged fruits and vegetables. The retail sector is expected to grow with urbanization, increasing demand for microgreens. Furthermore, microgreens growers have websites where they sell microgreens. During the forecast period, the microgreens market will be supported by online farmers' markets and online stores.
| Report Scope | |
| Report Metric | Details |
| Market Size | USD 3.69 Billion by 2030 |
| CAGR | 11% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Farming Method, Distribution Channel, End-User, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | AeroFarms, Fresh Origins, Gotham Greens, Madar Farms 2BFresh,The Chef's Garden Inc, Farmbox Greens LLC, Living Earth Farm, Good Leaf Farms, Bowery Farming |
| Key Market Opportunities | Rapid Increase in the Retail and Online Stores |
| Key Market Drivers | The Rise in Demand for Indoor Cultivation Microgreens—Untapped Potential Market |
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Regional Insights
North America has held the highest share in the global microgreens market and is expected to sustain its claim during the forecast period. The North American microgreens market is studied across the US, Canada, and Mexico. It is estimated to reach an expected value of USD 960 million by 2030 at a CAGR of 10.2%. This is due to indoor vertical farming technology's rapid advancement and widespread adoption by vegetable and microgreens growers. Chefs in the United States are in high demand for microgreens as flavor enhancers and as colorful garnishes on hotel and restaurant plates, so organic vegetable growers are pursuing this market.
Europe has gained a considerable share in the global microgreens market and is expected to sustain its claim during the forecast period. It is estimated to reach an expected value of USD 715 million by 2030 at a CAGR of 9.7%. Europe microgreens market is studied across Russia, Spain, Italy, France, Germany, the UK, the Netherlands, and the rest of Europe. This is because of the growing popularity of microgreens among health-conscious consumers and the rapid adoption of indoor vertical farming technology.
The fastest-growing market for microgreens is Asia-Pacific, where demand for functional and healthy foods is skyrocketing. This is due to increased health-conscious consumers, increased spending on functional foods, and increased demand for organic vegetables. It is estimated to reach an expected value of USD 620 million by 2030 at a CAGR of 14.1%.
Key Highlights
- The Global Microgreens Market was worth USD 1,445 million in 2021. It is estimated to reach an expected value of USD 3,695 million by 2030 at a CAGR of 11% during the forecast period (2022-2030).
- Based on type, the market is categorized into broccoli, cabbage, cauliflower, arugula, peas, radish, basil, carrots, and others. The broccoli type segment dominated the market. It is estimated to reach an expected value of USD 560 million by 2030 at a CAGR of 10%.
- Based on the farming method, the market is segregated into indoor vertical farming, commercial greenhouse farming, and others. Indoor vertical farming is the most widely adopted method and is estimated to reach an expected value of USD 1,510 million by 2030 at a CAGR of 11.2%. This can be attributed to the growing technological advancement in indoor vertical Farming, like remote operations, and the rise of information technology, which allows for the management of things through mobile apps, automatic irrigation, and fertilization.
- Based on the distribution channel, the global microgreens market is segmented into retail stores, online stores, and farmers’ market. The farmers’ market is estimated to reach an expected value of USD 745 million by 2030 at a CAGR of 9.8%.
- By end-user, the market is divided into residential and commercial. The commercial sector dominates the market and is estimated to reach an expected value of USD 1,715 million by 2030 at a CAGR of 10.4%.
- Region-wise, the global microgreens market is segmented across North America, Europe, Asia-Pacific, and LAMEA. North America and Europe are the two largest regions in the market.
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List of Top Microgreens Market Companies
- AeroFarms
- Fresh Origins
- Gotham Greens
- Madar Farms
- 2BFresh
- The Chef's Garden Inc
- Farmbox Greens LLC
- Living Earth Farm
- Good Leaf Farms
- Bowery Farming
Global Microgreens Market: Segmentation
By Type
- Broccoli
- Cabbage
- Cauliflower
- Arugula
- Peas
- Radish
- Basil
- Carrots
- Others
By Farming Method
- Indoor Vertical Farming
- Commercial Greenhouse Farming
Distribution Channel
- Retail Store
- Online Store
- Farmers Market
- Others
By End-User
- Residential
- Commercial
By Regions
- North America
- Asia-Pacific
- Europe
- LAMEA
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Microgreens Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Type Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Broccoli
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Cabbage
5.3.1 Market Size & Forecast (Value & Volume)
5.4 Cauliflower
5.4.1 Market Size & Forecast (Value & Volume)
5.5 Arugula
5.5.1 Market Size & Forecast (Value & Volume)
5.6 Peas
5.6.1 Market Size & Forecast (Value & Volume)
5.7 Radish
5.7.1 Market Size & Forecast (Value & Volume)
5.8 Basil
5.8.1 Market Size & Forecast (Value & Volume)
5.9 Carrots
5.9.1 Market Size & Forecast (Value & Volume)
5.10 Others
5.10.1 Market Size & Forecast (Value & Volume)
6 Farming Method Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 Indoor Vertical Farming
6.2.1 Market Size & Forecast (Value & Volume)
6.3 Commercial Greenhouse Farming
6.3.1 Market Size & Forecast (Value & Volume)
7 Distribution Channel Overview
7.1 Introduction
7.1.1 Market Size & Forecast (Value & Volume)
7.2 Retail Store
7.2.1 Market Size & Forecast (Value & Volume)
7.3 Online Store
7.3.1 Market Size & Forecast (Value & Volume)
7.4 Farmers Market
7.4.1 Market Size & Forecast (Value & Volume)
7.5 Others
7.5.1 Market Size & Forecast (Value & Volume)
8 End-User Overview
8.1 Introduction
8.1.1 Market Size & Forecast (Value & Volume)
8.2 Residential
8.2.1 Market Size & Forecast (Value & Volume)
8.3 Commercial
8.3.1 Market Size & Forecast (Value & Volume)
9 Regional Overview
9.1 Introduction
9.1.1 Market Size & Forecast (Value & Volume)
9.2 North America
9.2.1 Economic Overview
9.2.2 Market Scenario
9.2.3 U.S.
9.2.4 Canada
9.2.5 Mexico
9.3 Central and South America and the Caribbean
9.3.1 Economic Overview
9.3.2 Market Scenario
9.3.3 Brazil
9.3.4 Argentina
9.3.5 Colombia
9.3.6 Rest of Central and South America and the Caribbean
9.4 Europe
9.4.1 Economic Overview
9.4.2 Market Scenario
9.4.3 Germany
9.4.4 France
9.4.5 The U.K.
9.4.6 Italy
9.4.7 The Rest Of Europe
9.5 Asia-Pacific (APAC)
9.5.1 Economic Overview
9.5.2 Market Scenario
9.5.3 China
9.5.4 Japan
9.5.5 India
9.5.6 Australia
9.5.7 South Korea
9.5.8 Rest Of APAC
9.6 Middle East
9.6.1 Economic Overview
9.6.2 Market Scenario
9.6.3 South Arabia
9.6.4 The UAE
9.6.5 Qatar
9.6.6 Oman
9.6.7 Turkey
9.6.8 The Rest Of Middle East
9.7 Africa
9.7.1 Economic Overview
9.7.2 Market Scenario
9.7.3 Nigeria
9.7.4 South Africa
9.7.5 The Rest Of Africa
10 Competitive Landscape — Manufacturers & Suppliers
10.1 Competition Dashboard
10.2 Industry Structure
10.3 AeroFarms
10.3.1 Business Overview
10.3.2 Financial Performance
10.3.3 Recent Developments
10.3.4 Portfolio
10.4 Fresh Origins
10.5 Gotham Greens
10.6 Madar Farms
10.7 2BFresh
10.8 The Chef's Garden Inc
10.9 Farmbox Greens LLC
10.10 Living Earth Farm
10.11 Good Leaf Farms
10.12 Bowery Farming
11 Conclusion & Recommendation
12 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/microgreens-market/toc
Market News
- In March 2021, AeroFarms, a certified B Corporation and leader in vertical Farming, entered into an agreement and plan of merger (the "Merger Agreement") with the Spring Valley acquisition AeroFarms will begin trading on Nasdaq under the new ticker symbol "ARFM" after the transaction is completed. David Rosenberg, Co-Founder and Chief Executive Officer of AeroFarms, will lead the combined company.
- In March 2021, Gotham Greens goes west to unlock the next growth chapter: 'The indoor environment is relatively unexplored but offers fantastic opportunities. Using funding from its recent 87m Series D capital raise, indoor agriculture company Gotham Greens has expanded operations to Northern California – its first West Coast greenhouse location – opening a 10-acre facility, which will bring its total annual production to 40 million heads of lettuce and herbs.
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